The real estate sector saw an increase in insolvencies in March, with 22 companies declared insolvent in March compared to just 8 in March 2014.

Overall, insolvencies have increased by 6 per cent, with 113 Irish companies declared insolvent in March 2015 compared to 107 last year. 82% of those were liquidations, followed by 15% receiverships and 3% examinerships.

While at least one company was made insolvent in 17 of the 26 counties, Carlow, Cavan, Laois, Leitrim, Longford, Offaly, Waterford, Wexford and Wicklow were not affected by insolvency in March.

The real estate sector, which was badly hit during the recession, reported the highest increase in the number of insolvencies. 22 companies in the sector were declared insolvent last month compared to just eight in March 2014.